Hong Kong Rating and Valuation Department: Private residential building completions in the first 11 months of last year exceeded 17,000 units, accounting for 84% of the annual forecast.

The latest Hong Kong Property Report Supplement released by the Hong Kong Rating and Valuation Department shows that in November last year, a total of 383 private residential units were completed, a decrease of nearly 90% compared to the previous month, hitting a six-month low. In the first 11 months of last year, a total of 17,557 units were completed, a 6% decrease compared to the same period last year, which is equivalent to about 84% of the department's forecasted annual completion of 20,862 units. The units completed in November last year were mainly small units; among them, Class A units with a usable area of less than 431 square feet accounted for 381 units, or 99% of the total completion in that period; Class B units with a usable area of 431 to 752 square feet accounted for 1 unit; while Class E units with a usable area of 1,722 square feet or more accounted for 1 unit. The units completed in the first 11 months were mostly in the Kowloon area, involving 8,641 units, or nearly half of the total completion.